- Vietnam will pilot a digital asset exchange in an international financial center for release in late 2023.
- The initiative strengthens cybersecurity and involves multiple government agencies.
- Global entities like Binance express interest in growing Vietnam’s digital economy.
The Vietnamese government plans to pilot a digital asset exchange in an international financial center, following legislative approvals and a Ministry of Finance proposal due this August.
This initiative aims to position Vietnam as a leader in digital asset innovation, highlighting the strategic importance of cybersecurity and risk management in the rapidly evolving financial ecosystem.
Vietnam’s Digital Exchange to Boost Blockchain Innovation
Vietnam’s government announced an initiative to pilot a new digital asset exchange within an international financial center. Key players include the Ministry of Finance and the State Bank of Vietnam. The pilot will cover asset issuance, trading, and management. Government officials emphasize the use of blockchain as core infrastructure. The Ministry of Finance will finalize the policy in August.
Immediate changes include stronger cybersecurity measures and prioritizing highly liquid assets for trading. The central bank is conducting research on a national digital currency. International entities like Hana Financial Group and Binance have shown interest in engaging with the platform development.
In notable market reactions, Binance’s CEO Richard Teng described Vietnam as a strategic partner in shaping the digital economy. Dunamu also expressed high growth potential in Vietnam’s market, signaling long-term investment interests.
“Dunamu… sees high growth potential in Vietnam’s digital asset space,” with an intention to pursue long-term investment, per official Vietnamese government newswire account of the meeting.
Bitcoin Price Surges Amid Vietnam’s Strategic Moves
Did you know? Vietnam previously piloted regulatory sandboxes in fintech, indicating a pragmatic approach toward digital asset integration within their economy.
Bitcoin (BTC) is trading at $118,984.66, with a $2.37 trillion market cap and a 59.53% market dominance, according to CoinMarketCap. Trading volume has fallen to $71.23 billion in 24 hours. Bitcoin’s price shows a 4.37% gain over seven days.
The Coincu research team highlights Vietnam’s strategy as aligning with global trends towards regulated digital asset activities. This initiative could spur additional international investments, supported by historical trends in regulated sandbox environments in fintech.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/news/vietnam-digital-asset-exchange-pilot/